The GOLD PRICE made good its escape once again from its even-sided triangle prison and distanced itself from the 20 and 50 day moving averages ($1,593.53 and $1,594.82). High only reached $1,615.20, but no shame or fret in that. The GOLD PRICE will next tap on $1,625 - $1,630 gate, and bull its way through. Maybe this week, although expect no great speed of advance during the rest of August. Probably will unfold slowly, but 'tis advancing.

The SILVER PRICE also closed above its triangle, confirming that the declines last week were merely silver (and gold) turning for the final kiss good buy, confirming their breakouts.

Nobody is interested in the SILVER and GOLD PRICE right now, which offers canny buyers the chance to accumulate before the power rally begins. Do it now.

Clearly, stocks are aiming to move higher, and will surely test the May highs. None of this changes the bearish outlook -- 'twill only increase the eventual mourning, wailing, and tooth gnashing.

Dow today clambered up a tiny but symbolically potent 22.7 (0.17%) to close at 13,118.87. S&P500 snatched back a little change, 3.29 (0.24%) to reach 1,394.28.

Precisely now dawns the day when you must steel yourself and stuff your ears with cotton against the siren song coming out of Wall Street. Rope yourself to the mast like Ulysses, if you must, but heed not their song, or woe untold awaits you!

Dollar index retreated again today, 14 basis points or 0.18% to lodge with its back against the wall at 82.235. Euro gained 0.13% to $1.2404, exactly as the central bankers might wish.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

WARNING AND DISCLAIMER. Be advised and warned:

Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.

NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.

NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.

NOR do I recommend buying gold and silver on margin or with debt.

What DO I recommend? Physical gold and silver coins and bars in your own hands.

One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.